Players within the global food processing equipment market are concentrating on product enhancements and developing technological advanced equipment, states Transparency Market Research (TMR), in its latest report. The growing need for flexible equipment will also give rise to the need for automation so as to manage efficient carrying out of all operations. Energy efficiency, safety, and minimizing the cost of maintenance are some of the factors crucial for the manufacturers within the global food and beverage industry. Key players within the market include: Bucher Industries AG, Krones AG, AB Electrolux, John Bean Technologies Corporation, Tetra Laval, Bühler AG, SPX Corporation, Dover Corporation, ALFA LAVAL GEA Group AG, Marlen International, Inc., NICHIMO CO., Marel, LTD, BMA Braunschweigische Maschinenbauanstalt AG, Middleby Corporation, and Meyer Industries.
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As per the latest report compiled by Transparency Market Research (TMR), the global food processing equipment market is expected to reach US$ 70,510.1 million revenue by the end of 2022, expanding at a CAGR of 6.7% between 2017 and 2022. By type of equipment, the thermal equipment type is leading in the market. On the basis of application, it is the bakery and confectionery segment which is predicted to lead in the forecast period within the global food processing equipment Market. On the basis of type of food, the market is expected to be led by the processed food segment.
On the basis of operation, it is the semi-automatic food processing equipment which will witness higher demand between 2017 and 2022. By geography, Asia Pacific excluding Japan is expected to be one of the key markets for food processing equipment on account of the staggering increase in the population as well as the subsequent demand for food. The increasing number of manufacturing facilities within the food and beverage sector will also drive the growth of the Asia-Pacific excluding Japan market for food processing equipment. In the year 2017, this region accounted for 2/5 of the total revenue share.
According to the lead author of this report, players within the food processing equipment Market are strategizing in order to establish their products in the market by implementing the latest of Technologies and offering Advanced features. With green technology is becoming increasingly popular today, manufacturers are introducing food processing equipment that are energy efficient and also result in reduced maintenance cost in operation cost. For the reduction of carbon footprint, existing companies within the food and beverage sector are extensively replacing their old equipment with the new energy-efficient equipment. This in turn is expected to drive the growth of the global food processing equipment Market.